DislikedHello Alfonso and erveryone, 1. do you choose a fix(final) target for your trades, for example the next opposite HTF zone or what?. I think if trading a daily demand within a monthly on set and forget, and we would put our stops below new daily zones we get stoped out early, maybe because of a reaction to weekly supply. So if trading of a monthly zone, should the goal also be an opposite monthly zone or maybe a HTF zone because they will stop trend. I like to take half of anyway. 2. if waiting for conformation at HTF zone, the first one fails and...Ignored
Your mind plays a part in it all.
A fixed 3:1 take profit strategy for example allows for a consistent approach, not caring how far price then goes after that target is hit
Another trader may find it too painful to see all the additional profit they "could have made" if they had not exited at 3:1 and will look to trail their stops technically either using newly formed zones in the direction of their trade, or indicators like a moving average or ATR e.t.c. to trail stops.
Any approach will have its pros and cons, no perfect solution
Of note also regarding targets is where on the curve you enter. if entry for example is in a monthly zone (using newly formed daily areas near or in that zone) then your targets should be larger since you can expect a bigger move (if your mind can deal with inevitable pullbacks that will happen along the way)
Best wishes
Be careful what you think because your thoughts run your life..Solomon